TEDCO recently awarded BHI with a $10,000 grant to support up-and-coming biohealth enterprises. The funding comes from TEDCO’s 2016 Incubator Assistance Program (“The Program”), to which BHI submitted a proposal earlier this year. The Program is intended to assist Maryland’s incubators in providing added value to their client companies.
“BHI continues to be a leader in identifying and supporting biohealth companies that will make a difference in our region,” said TEDCO’s President and Executive Director Rob Rosenbaum. “Our Incubator Assistance Program—which has become highly competitive—is designed to reward those incubators that will have a significant impact and continue to maximize Maryland’s entrepreneurial ecosystem. We are pleased to present this funding to BHI.”
The Program funds incubator initiatives that could not otherwise be funded by either the incubator or its client companies. Funds may not be used for facility capital expenditures, facility operating expenses, staff salary support, or existing incubator programs not previously funded by a TEDCO Incubator Assistance Program. Incubator companies assisted through the Program must be active incubator clients and not anchor tenants or strategic partners.
“We willingly and graciously accept this funding and appreciate TEDCO’s recognition of BHI and its clients through this award,” said Rich Bendis, BHI President and CEO. “We understand that this year’s pool of proposals and applicants for the Incubator Assistance Program funding was extremely competitive and feel honored to have been one of the few applicants to be rewarded.”